Jobless rate continues its slow decline

Unemployment is continuing to decrease slowly but steadily, as it contracted by 0.2 percent in April from the same month in 2013 to amount to a seasonally adjusted rate of 27.3 percent, according to data released on Thursday by the Hellenic Statistical Authority (ELSTAT). In March it had also stood at 27.3 percent.

The number of people employed in April 2014 came to 3,471,930, while the financially inactive population stood at 3,370,392 and the unemployed numbered 1,303,454, down 26,944 from a year earlier. Among the most vulnerable age group, aged 15-24 years, the jobless rate fell from 58.9 percent in April 2013 to 56.3 percent a year later.

What is most worrying, however, is the high rate of the long-term unemployed (those without a job for at least 12 months): A recent survey by the Manpower Organization (OAED) showed an 18.5 percent rise (or 69,744 people more) in May from the same month in 2013.